Dividend.com: Midday Update - TheStreet

The market is not performing well as we head into the midday. Sellers continue to outpace buyers, despite the numerous analyst upgrades we reported this morning. Let's zero in on the action.

Bullish

Obama-care Plays

:

Cigna

(CI) - Get Report

,

UnitedHealth Group

(UNH) - Get Report

,

Aetna

(AET)

and

WellPoint

(WLP)

are all trading nicely to the upside.

Upgrades

:

Dicks Sporting Goods

(DKS) - Get Report

,

Marvell Technology

(MRVL) - Get Report

,

Steel Dynamics

(STLD) - Get Report

, and

Anadarko Petroleum

(APC) - Get Report

are managing to hold on to early gains.

Shanda Interactive

( SNDA): Holding up well on this weak market tape.

Bearish

Downgrades

:

BJ's Wholesale Club

(BJ) - Get Report

and

Bank of NY/Mellon

(BK) - Get Report

are getting hit on this morning's Wall Street downgrades.

Oil

(USO) - Get Report

: Prices are lower and that is dragging oil-related plays like

Chevron

(CVX) - Get Report

,

BP plc

(BP) - Get Report

and

Transocean Ltd.

(RIG) - Get Report

down as well.

Transports

: Rails are down with

Burlington Northern Sante Fe

( BNI) leading the way lower.

High-Beta Financial plays

:

MasterCard

(MA) - Get Report

and

Blackrock

(BLK) - Get Report

are performing poorly today.

Fertilizer plays

:

Potash Corp

(POT)

and

Mosaic

(MOS) - Get Report

are leading the way lower.

Retail Plays

:

Coach

(COH)

and

Sears Holdings

(SHLD)

are not showing any signs of recent leadership.

Other Well-Known Poor Performers

:

American International Group's

(AIG) - Get Report

reverse split last week was a big win for short-sellers to reload at higher prices.

Boeing

(BA) - Get Report

has broken below $40.

High-Beta Trouble

:

Green Mountain Coffee Roasters

(GMCR)

and

Intuitive Surgical

(ISRG) - Get Report

are trading lower.

Internet Giants

:

Google

(GOOG) - Get Report

is threatening to break below $400, while

Amazon

(AMZN) - Get Report

is showing some weakness again.

Oil

(USO) - Get Report

prices are lower again today, as Monday's afternoon rally gains have evaporated so far today.

Gold

(GLD) - Get Report

is trading flat today, while

Treasuries

(TLT) - Get Report

are starting to see some buyers. The market is not getting much help from transport plays.

I am continuing to watch

FedEx

(FDX) - Get Report

for evidence the packaged-goods play is going to be the gauge to watch. Financials are fairly flat to slightly down. We have not seen any noticeable strength in that sector for a while as well.

Commodity stocks that appear to be getting some help this morning from some Wall Street calls as names like

Freeport McMoran

(FCX) - Get Report

are close to breaking down. Not seeing as much buying in the consumer/non-cyclical plays as we have been. I'm watching this very closely.

I would take a look at the ultrashort plays as we head into the afternoon session for a long play. My favorite three plays are the DUG, SKF, and SRS. I would keep the positions manageable and be prepared to hold if it appears that the plays will close near the highs of the day. As always, use proper stop-loss orders to protect any profits and minimize losses.

At the time of publication, the author had no positions in stocks mentioned, although positions may change at any time.

Tom Reese and Paul Rubillo are senior editors of Dividend.com. Visit Dividend.com for more dividend stock ratings, picks, news, and analysis for long-term and income-seeking investors.